When I first began to sell goods on amazon I sold everyday items I found around the house, I also flipped products I bought online or through charity shops. Although very fun and profitable I always had my eye on another prize, fulfilment by amazon (FBA). With fba you simply (well not all that simply) send your goods to amazon and they then ship products to your customers for you. They offer customer support and even offer Amazon prime members free 2 day shipping.
Here are some things I had to keep in mind throughout this process.
Yes a barrier to entry is of course a financial one, purchasing of stock, advertising, shipping fees, amazon referral fees etc. To make fba profitable the more stock you buy the better, buying in bulk lowers prices and so on, this of course carries the risk that there is of course no guarantee that my stock will in fact sell. Luckily software such as Jungle scout allow you to somewhat estimate what kind of sales you can expect.
As I will be storing and selling my products through the UK I must abide by certain laws. Registering for vat for example as well as registering as a sole trader. Other things I had to consider were the implications of Brexit, in a few months or possibly weeks the option to sell goods from the UK might become far less profitable or even impossible. I took the view this is a risk but also an opportunity as not as many sellers will be selling through the UK in the coming months, something I wish to take advantage of.
I could write a few pages on this topic alone but finding products which you think there is a gap in the market for, have high demand, and can yield high sales can be challenging but also very fun. There is something rewarding about having your logo on a product as well…childlike wonder perhaps!
My advice to others who are thinking of selling on amazon is there will never be a right time or the perfect product. If you are thinking about selling on amazon of course do as much research as possible but you will eventually have to pull the trigger, spend money and pray to the amazon gods things will work out. Of course with enough work put in your hard work and detailed product research should mean you don’t have to rely on the gods but to more so rely on your own hard work!